NXT-ID has announced that it has submitted a patent application for its digital wallet technology – the Wocket. “Rather than attempting to replace the wallet, as companies such as Google and Isis are doing by putting contactless payment capability on smartphones, our method brings the wallet into the 21st century,” Gino Pereira, CEO of NXT-ID said.

“We offer an alternative solution to those who do not wish to give up their wallet and market studies show that represents a significant portion of the population. We offer the modern wallet an electronic vault that is actually part of the wallet, securely protecting private information accessible only by the user via biometric enabled multi-factor authentication. What is unique about this invention is that it secures private information found within a typical wallet, such as credit cards, debit cards, identification information, medical information and records and makes this private information available to owners via an interface made so simple that anyone can use it as they would use their wallet today.”

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